Funding a Startup Is Getting Easier in the Middle East

The Middle East is awash with positive sentiment around startups, and a regular flow of accelerators, incubators and venture capital funds have been launching in recent months to the audible cheer of entrepreneurs.

Yet, is it actually getting easier to fund a startup in the Middle East? Yes, but there’s still a long way to go.

That was the conclusion of a Google Hangout organised by The Wall Street Journal and a panel of experts in the startup field across the Middle East.

The panel of five included Wassim Kabbara, head of retail & local in MENA at Google; Sam Quawasmi, managing director of crowdfunding site Eureeca.com; Ramez Mohamed, chief executive of Cairo accelerator Flat6Labs; Hind Hobeika, founder of wearable tech startup Instabeat; and Chris Schroeder, the author of Startup Rising.

Here are the key takeaways from the discussion:

1. Things are changing. More accelerators, angel investors and venture capital funds from inside and outside the region are interested in buying into the Middle East.

2. Entrepreneurs should have their business plan in order before seeking investment, and get educated quickly on the financials.

3. The type of investment received, and from whom, is crucial to growing a business and building a brand in the Middle East.

4. Unfortunately, banks are not lending very much to small businesses just yet.

5. And more investors are needed across the region, across sectors and at every funding level.